# LARIMER CAPITAL CORPORATION X-17A-5 (2026-03-05) — Broker-dealer annual report - Company: LARIMER CAPITAL CORPORATION - Form: X-17A-5 - Filed: 2026-03-05 - Period: 2025-12-31 - Accession: 0000799356-26-000003 - CIK: 799356 - File #: 8-36594 - Type: Broker-dealer - Material weakness: No - Auditor: LMHS, P.C. - Auditor location: Norwell, MA - Contact: Adam Carmel - Phone: 3035735511 - Email: adam@larimercapital.com - Website: larimercapital.com - Signed by: Adam Carmel (President) Original filing: https://www.sec.gov/Archives/edgar/data/799356/000079935626000003/finraauditprivate2025_1.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 SEC FILE NUMBER # ANNUAL REPORTS FORM X-17A-5 PART IIl | FACING PAGE | | | | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|-------------------------|--|--|--| | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | | 12/31/2025
01/01/2025
FILING FOR THE PERIOD BEGINNING
AND ENDING | | | | | | | MM/DD/YY | | MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | Larimer Capital Corporation
NAME OF FIRM: | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer ☐ Security-based swap dealer
Check here if respondent is also an OTC derivatives dealer | Major security-based swap participant | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | 1720 South Bellaire Street Suite 1110 | | | | | | | (No. and Street) | | | | | | | Denver
Colorado | | 80222 | | | | | (City)
(State) | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Adam M. Carmel
303-573-5511 | | adam@larimercapital.com | | | | | (Name)
(Area Code - Telephone Number) | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | LMHS, P.C.
Certified Public Accountants and Advisors
- | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 80 Washington Street Building S Norwell | MA | 02061 | | | | | (Address)
(City) | (State) | (Zip Code) | | | | | 02-24-2009 | 3373 | | | | | | (Date of Registration with PCAOB)(if applicable)
FOR OFFICIAL USE ONLY | (PCAOB Registration Number, if applicable) | | | | | \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported bya statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | I, Adam M. Carmel | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------------|--|------------------------------------------------------------------------|--|---------------------------------------------------------------------|-------| | | | financial report pertaining to the firm of Larimer Capital Corporation | | | as of | | | | | | | | December 31 2025, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Signature: AdAl al. Creae Title: President #### This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - Π (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - Π (d) Statement of cash flows. - (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - 미 (f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - Π (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - (i) Computation of tangible net worth under 17 CFR 240.18a-2. - Π (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - (1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - Π (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Π (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (t) Independent public accountant's report based on an examination of the statement of financial condition. - Π (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Π (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - 미 (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - (z) Other: - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ # REPORT PURSUANT TO RULE 17a-5(d) # YEARS ENDED DECEMBER 31, 2025 AND 2024 The report is deemed CONFIDENTIAL in accordance with Rule 17a-5(e) (3) under the Securities Exchange Act of 1934. A statement of financial condition has been filed with the Securities and Exchange Commission simultaneously herewith as a PUBLIC DOCUMENT. {3}------------------------------------------------ #### TABLE OF CONTENTS | | Page(s) | |-------------------------------------------------------------------------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm | 3 | | Statements of Financial Condition | 4 | | Statements of Income | 5 | | Statements of Changes in Stockholder's Equity | 6 | | Statements of Cash Flows | 7 | | Notes to Financial Statements | 8-13 | | Supplementary Schedule: | | | Computation of Net Capital Pursuant to Uniform Net Capital Rule 15c3-1 | 14 | | Report of Independent Registered Public Accounting Firm on the
Company's Exemption Report | 15-16 | | Report of Independent Registered Accounting Firm on Applying Agreed-Upon
Procedures Required by SEC Rule 17a-5(e)(4) | S1 | | SIPC-7 Form | S2 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### Report of Independent Registered Public Accounting Firm To the Stockholder Larimer Capital Corporation Denver, Colorado #### Opinion on the Financial Statements We have audited the accompanying statements of financial condition of Larimer Capital Corporation as of December 31, 2025 and 2024, and the related statements of income,changes in stockholder's equity, and cash flows for the years then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Larimer Capital Corporation as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion These financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to Larimer Capital Corporation in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCАОВ. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. #### Supplemental Information The supplemental information appearing on page 14 has been subjected to audit procedures performed in conjunction with the audits of Larimer Capital Corporation's financial statements. The supplemental information is the responsibility of Larimer Capital Corporation management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with C.F.R. §240.17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. LMHS, P.C. LMHS, P.С. We have served as Larimer Capital Corporation's auditor since 2021. Norwell, Massachusetts February 17, 2026 ![](_page_4_Picture_14.jpeg) ![](_page_4_Picture_16.jpeg) {5}------------------------------------------------ ## STATEMENTS OF FINANCIAL CONDITION DECEMBER 31, 2025 AND 2024 | | 2025 | | | 2024 | | | |-----------------------------------------------------|------|-----------|----|-----------|--|--| | ASSETS | | | | | | | | Cash and cash equivalents | \$ | 2,083,627 | \$ | 1,914,258 | | | | Commissions receivable | | 58,145 | | 33,266 | | | | Prepaid expenses | | 13,640 | | 11,277 | | | | Total Current Assets | | 2,155,412 | | 1,958,801 | | | | Right Of Use Assets | | 0 | | 45,438 | | | | Other assets | | 4,725 | | 4,725 | | | | Total Non-Current Assets | | 4,725 | | 50,163 | | | | Total assets | \$ | 2,160,137 | \$ | 2,008,964 | | | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | | | | | | LIABILITIES: | | | | | | | | Lease Obligations | \$ | 이 | \$ | 45,438 | | | | | | 이 | | 45,438 | | | | COMMITMENTS AND CONTINGENCIES (Notes 3, 4, 5) | | | | | | | | STOCKHOLDER'S EQUITY (Note 2): | | | | | | | | Common stock, no par value; 50,000 | | | | | | | | Shares authorized; one share issued and outstanding | | 89,000 | | 89,000 | | | | Retained earnings | | 2,071,137 | | 1,874,526 | | | | Total stockholder's equity | | 2,160,137 | | 1,963,526 | | | | Total liabilities and stockholder's equity | S | 2,160,137 | \$ | 2,008,964 | | | The accompanying notes are an integral part of these statements. {6}------------------------------------------------ #### STATEMENTS OF INCOME YEARS ENDED DECEMBER 31, 2025 AND 2024 | | 2025 | 2024 | | | |----------------------------------------|---------------|------|-----------|--| | REVENUE: | | | | | | Securities commissions | \$
957 | \$ | 106,394 | | | Insurance commissions | 44,149 | | 156,852 | | | Fee income | 759,167 | | 673,512 | | | Other income | 87,079 | | 93,209 | | | Total revenue | 891,352 | | 1,029,967 | | | EXPENSES: | | | | | | Retirement plan contributions (Note 4) | 54,173 | | 46,000 | | | Commissions | 24.393 | | 25,796 | | | Officer's salary and benefits | 176,100 | | 168,600 | | | Office salaries and benefits | 75,835 | | 89,786 | | | General and administrative | 85,405 | | 109,546 | | | Occupancy Costs | 62,369 | | 61,765 | | | Charitable Contributions | 64,513 | | 75,000 | | | Travel and entertainment | 40,260 | | 28,229 | | | Professional fees | 46,436 | | 50,408 | | | Payroll taxes | 25,626 | | 30,634 | | | Regulatory fees | 16,450 | | 16,104 | | | Communications | 18,931 | | 17,355 | | | Automobile costs | 4,250 | | 4,156 | | | Interest Expense | 0 | | 27 | | | Total expenses | 694,741 | | 723,406 | | | NET INCOME | \$
196,611 | \$ | 306,561 | | The accompanying notes are an integral part of these statements. 5 {7}------------------------------------------------ #### STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY YEARS ENDED DECEMBER 31, 2025 AND 2024 | | Common Stock
Shares
Amount | | | Retained | | Total
Stockholder's
Equity | | |-----------------------------|----------------------------------|----|--------|----------|-----------------|----------------------------------|-----------| | | | | | | Earnings | | | | BALANCES, December 31, 2023 | 1 | \$ | 89,000 | \$ | 1,567,965 | \$ | 1,656,965 | | Net income | | | | | 306,561 | | 306,561 | | BALANCES, December 31, 2024 | 1 | S | 89,000 | S | 1,874,526 | \$ | 1,963,526 | | Net income | | | | | 196,611 | | 196,611 | | BALANCES, December 31, 2025 | 1 | \$ | 89,000 | | \$ 2,071,137 \$ | | 2,160,137 | The accompanying notes are an integral part of these statements. 6 {8}------------------------------------------------ ### STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2025 AND 2024 | | | 2025 | | 2024 | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------|-------------------------------|--------|-------------------------------| | CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income
Right of Use Asset
Lease Obligation
Adjustments to reconcile net income to net cash
provided by operating activities: | ક્ષ્ | 196,611
45,438
(45,438) | S | 306,561
51.966
(51,966) | | Decrease (increase) in prepaid expenses
Decrease (increase) in commissions receivables | | (2,363)
(24,879) | | 497
(1,011) | | Net cash provided by operating activities | | 169,369 | | 306,047 | | NET INCREASE IN CASH AND CASH EQUIVALENTS | | 169,369 | | 306,047 | | CASH AND CASH EQUIVALENTS, at beginning of year | | 1,914,258 | | 1,608,211 | | CASH AND CASH EQUIVALENTS, at end of year | S | 2,083,627 | સ્ત્રે | 1,914,258 | {9}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS ### NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Organization and Business Larimer Capital Corporation (the "Company") is registered as a broker-dealer with the Securities and Exchange Commission, with its principal activities consisting of financial consulting as a registered investment advisor, traditional securities business and sales of life and disability insurance policies. The Company is also a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). #### Method of Accounting The financial statements are prepared using the accrual method of accounting whereby revenues are recognized when earned and expenses are recognized when incurred. This method of accounting conforms to generally accepted accounting principles. #### Revenue Recognition The following disclosures discuss the Company's revenue recognition accounting policies as governed by Topic 606 (Revenue From Contracts With Customers). This guidance provides a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASC 606 also requires both qualitative and quantitative disclosures, including descriptions of performance obligations. Performance Obligations - Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring goods or services to customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the company determines the customer has obtained control over the promised good or service. The amount of revenue recognized reflects the consideration of which the Company expects to be entitled in exchange for the promised goods or services. Securities Commissions - Transactional securities revenues, commissions receivable and payable are recorded on a trade-date basis, which is the date a transaction is executed, and performance obligations have been satisfied. Insurance Commissions - Transactional insurance revenues are recorded (and generally after a 30 day "free look" contractual provision) as an industry standard. Fee Income - Investment advisory and management fees are recognized over the contract, based on a fee rate that is applied to the average balance of managed assets over that time period. Advisory fees are generally collected monthly in arrears, and recognized when received. Some fees may be collected quarterly in advance (by "turnkey asset management programs") and remitted to the Company, and recognized ratably over the related billing period as the performance obligation is fulfilled. Any financial planning consulting fees are recognized after the services are performed. Commissions receivable are typically received in full shortly after the receivable is recorded and management has determined that no allowance for uncollectible amounts is necessary. The Company historically has not experienced any losses from uncollectible accounts. {10}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS #### NOTE 1 - (continued) The following table disaggregates the Company's revenue based on the timing of satisfaction of performance obligations for the year ended December 31, 2025: | Performance Obligations Satisfied at a Point in Time | 132.185 | |------------------------------------------------------|------------| | Performance Obligations Satisfied Over Time | 759.167 | | Total Revenue | \$ 891.352 | #### Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers money market funds with original maturities of three months or less to be cash equivalents. #### Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist primarily of contract receivables and deposits in excess of federally insured limits. The risk is managed by obtaining signed contracts for all work performed and by maintaining all deposits in high quality financial institutions. #### Commissions Receivable Amounts due from Charles Schwab and Co., Inc. reflect investment advisory fees due for the current month. Such commissions receivable are paid within 10 days of the end of the month. ### Prepaid Expenses Amount reflects prepaid securities industry fees, professional liability insurance and property and casualty insurance. Such amounts are paid annortized over the appropriate calendar or fiscal year period to which such expenses apply. ### Other Assets Amount reflects rent security deposit and is not an allowable asset in computing the Company's net capital. #### Agreement with Clearing Broker The Company, under Rule 15c3-3(k)(2)(i), is exempt from the reserve and possession or control requirements of Rule 15c3-3 of the Securities and Exchange Commission. The Company does not carry or clear customer accounts. Accordingly, all customer transactions are executed and cleared on behalf of the Company by its clearing broker on a fully disclosed basis. The Company's agreement with its clearing broker provides that as clearing broker, that firm will make and keep such records of the transactions effected in the customer accounts as are customarily made and kept by a clearing broker pursuant to the requirements of Rules 17a-3 and 17a-4 of the Securities and Exchange Act of 1934 (the "Act"). The Clearing Broker also performs all services customarily incident thereto, including the preparation and distribution of customers' confirmations and maintenance margin requirements under the Act and the rules of the Self Regulatory Organizations of which the Company is a member. {11}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS #### NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) ### Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Income Taxes The Company has elected to be treated as an S-corporation for income tax purposes. Accordingly, taxable income and losses of the Company are reported on the income tax return of the Company's stockholder and no provision for income taxes has been recorded in the accompanying financial statements. The Company is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax-related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. In accordance with recently passed legislation, SALT Parity Act, the Company has elected to pay the tax on its qualified Colorado pass-thru income at the entity level. The Company is not subject to income tax return examinations by major taxing authorities for years before 2022. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces net assets. However, the Company's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. The Company recognizes interest accrued related to unrecognized tax benalties related to unrecognized tax benefits in income taxes payable, if assessed. No interest expense or penalties have been recognized as of December 31, 2025 and 2024 and for the years then ended. #### NOTE 2 -NET CAPITAL REQUIREMENTS Pursuant to the net capital provisions of Rule 1503-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined under such provisions. At December 31, 2025, the Company had net capital and net capital requirements of \$2,141,772 and \$50,000, respectively. The Company's net capital ratio (aggregate indebtedness to net capital) was 0.00 to 1. According to Rule 15c3-1, the Company's net capital ratio shall not exceed 15 to 1. {12}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS ## NOTE 3 - COMMITMENTS - RIGHT OF USE ASSET The Company has a non-cancelable operating lease with an unrelated party for office space which expired on October 1, 2025. For the remaining months of 2025, the Company entered into a month-to-month rental agreement. Rental expense for all operating leases was \$62,369 and \$61,765 for the years ended December 31, 2025 and 2024, respectively. In accordance with ASC 842, the Company recognizes the right of use (ROU) assets and lease liabilities on the statement of financial condition for all leases with terms longer than 12 months. The lessee asset is equal to the minimum payments under the lease, discounted to present value, as well as a liability reflecting its lease obligation. Subsequent to December 31, 2025, the Company entered into a new lease agreement with an initial term of 18 months commencing January 1, 2026. The lease was not in effect as of year end and therefore no amounts have been recognized in the accompanying financial statements. The Company will record a right of use asset and lease liability related to this lease beginning in 2026 in accordance with ASC 842. #### EMPLOYEE BENEFIT PLANS NOTE 4 - ### 401(k) Profit Sharing Plan and Trust The Company has a salary deferral "401(k)" profit sharing plan and trust (the "Plan"). The Plan allows employees who are over 21 years old, have completed one year of employment and at least 1,000 hours of service to participate in the plan. Beginning January 1, 2013, the Plan contains a "safe harbor" provision requiring the Company to make 100% vested non-elective contributions equal to 3% of the compensation of eligible employees. "Safe harbor" contributions and "discretionary profit sharing" contributions to the Plan, charged to operations, were \$2,268 and \$51,905 and zero and \$46,000 for the years ended December 31, 2025 and 2024, respectively, #### NOTE 5 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISK AND CONTINGENCIES The Company is in business as a securities broker-dealer. In the normal course of business, the Company's activities through its clearing broker involve the execution, settlement and financing of various securities transactions. These activities may expose the Company to off-balance sheet risk. In the event a customer fails to satisfy its obligations, the Company may be required to purchase or sell financial instruments at prevailing market prices in order to fulfill the customer's obligations. The Company bears the risk of financial failure by its clearing broker. If the clearing broker should cease doing business, the Company's receivable from this clearing broker could be subject to forfeiture. The Company's financial instruments, including cash and cash equivalents, commissions receivable, prepaid expenses, and other assets are carried at amounts that approximate fair value due to the short-term nature of those instruments. {13}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS #### NOTE 6 -CREDIT LOSSES Effective January 1, 2020, the Company adopted the provision of Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326), which provides revised guidance on evaluating commissions and notes receivable and other financial instrument. The Company records commissions receivable when products or services are delivered and it is probable that payment will be received for services, and the Company does not record any interest or penalties on commissions receivable that are past due under the terms of the related arrangement or invoice until those amounts are received. Topic 326 requires companies to evaluate their financial instrument by recording an allowance for doubtful accounts and/or bad debt expense based on certain categories of instruments rather than a specific identification approach. The Company adopted the provisions of this standard using a method to estimate the allowance for doubtful accounts that considered both the aging of its commissions receivable and the projected loss rate of its receivables. The Company writes off commissions receivable, and the related allowance for doubtful accounts, when it becomes remote that payment for products or services will be received. The Company did not write off any receivables for the years ended December 31, 2025 and 2024. The adoption of the standard did not have a material impact on the Company's Financial Statements. #### NOTE 7 -FAIR VALUE MEASUREMENT FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritized the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or liability or, in the absence of a principal market, the most advantageous market for the asset of liability. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820 are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Level 2 inputs are inputs (other than quoted prices included within Level 1) that are observable for the asset or liability, either directly or indirectly. Level 3 are unobservable inputs for the asset or liability and rely on management's own assumptions about the assumptions that market participants would use in pricing the asset or liability. (The unobservable inputs should be developed based on the best information available in the circumstances and may include the Company's own data.) There were no levels to measure at December 31, 2025. {14}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS #### NOTE 8 -SEGMENT REPORTING The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, Securities Commissions, Insurance Commissions, and Fee Income. The company has identified its President as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. All revenue segments and significant expenses for the years ended December 31, 2025 and 2024 are disclosed on the Statement of Income. #### NOTE 9 -SUBSEQUENT EVENTS The Company has performed an evaluation of subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that required disclosures and/or adjustments. {15}------------------------------------------------ ### SUPPLEMENTARY INFORMATION ### COMPUTATION OF NET CAPITAL PURSUANT TO UNIFORM NET CAPITAL RULE 15c3-1 DECEMBER 31, 2025 | CREDIT: | | | |-------------------------------------------------------------|---|-----------| | Stockholder's equity | ક | 2,160,137 | | DEBITS: | | | | Nonallowable assets: | | | | Prepaid expenses | | (13,640) | | Other assets | | (4,725) | | Total debits | | (18,365) | | NET CAPITAL | | 2,141,772 | | Minimum requirements of 6-2/3% of aggregate indebtedness of | | | | \$0 or \$50,000, whichever is greater | | 50,000 | | Excess net capital | S | 2,091,772 | | AGGREGATE INDEBTEDNESS: | | | | Commissions payable and accrued liabilities | 4 | | | | | | | RATIO OF AGGREGATE INDEBTEDNESS TO NET CAPITAL | | 0.00 to | Note: There are no material differences between the above computation of net capital and the corresponding computation as submitted by the Company with the unaudited Form X-17A-5 as of December 31, 2025. See Report of Independent Registered Public Accounting Firm. {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) Report of Independent Registered Public Accounting Firm To the Stockholder Larimer Capital Corporation Denver, Colorado We have reviewed management's statements, included in the accompanying exemption report, in which (1) Larimer Capital Corporation, identified the following provisions of 17 C.F.R. §15c3-3(k) under which Larimer Capital Corporation claimed an exemption from 17 C.F.R. §240.15c3-3: (k)(2)(ii) (the "exemption provision") and (2) Larimer Capital Corporation identified that the non-covered activities or other eligible activities are not required to comply with the requirements of SEC Rule 15c3-3 by reason of the SEC's guidance set forth in Footnote 74 to SEC Release 34-70073, dated July 30, 2013 and as discussed in Q&A 8 of the related FAQ issued by SEC staff on April 4, 2014. Larimer Capital Corporation stated that Larimer Capital Corporation met the identified exemption provision throughout the most recent fiscal year without exception. Larimer Capital Corporation management is responsible for compliance with the exemption provision and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and accordingly, included inquiries and other required procedures to obtain evidence about Larimer Capital Corporation's compliance with the exemption provision. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(2)(ii) and Footnote 74 of Rule 15c3-3 under the Securities Exchange Act of 1934. LMHS, P.C. LMHS, P.C. We have served as Larimer Capital Corporation's auditor since 2021. Norwell, Massachusetts February 17, 2026 ![](_page_16_Picture_11.jpeg) ![](_page_16_Picture_13.jpeg) {17}------------------------------------------------ To Whom It May Concern, To the best knowledge and belief of Larimer Capital (the "Company"), the Company claimed exemption from possession or control requirements of SEC Rule 15c3-3 under subparagraph (k)(2)(ii) for the fiscal year ended December 31, 2025. This sub paragraph states: - (k) EXEMPTIONS - The provisions of this rule shall not be applicable to a broker or dealer: (2) - (i) > Who, as an introducing broker or dealer, clears all transactions with and for customers on a fully disclosed basis with a clearing broker or dealer, and who promptly transmits all customer funds and securities to the clearing broker or dealer which carries all of the accounts of such customers and maintains and preserves such books and records pertaining thereto pursuant to the requirements of §§ 240.17a-3 and 240.17a-4 of this chapter, as are customarily made and kept by a clearing broker or dealer. The Company is also filing this Exemption Report relying on footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its other business activities exclusively to: (1) effecting securities transactions via subscription way basis where the funds are payable to the issuer or its agent and not to the Company; (2) receiving transaction for business done directly with mutual fund companies and insurance issuers where the funds are payable to the issuer or its agent and not the Company. The Company met the identified exemption provisions throughout the most recent fiscal year without exception. Adam M. Carmel Adam Carmel, President {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) Report of Independent Registered Public Accounting Firm To the Stockholder Larimer Capital Corporation Denver, Colorado We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below on the accompanying General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2025. Management of Larimer Capital Corporation is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company's compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of this report and may not meet the needs of all users of this report and, as such, users are responsible for deter the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed, and the associated findings are as follows: - 1. Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries noting no differences, - 2. Compared the Total Revenue amounts reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2025, with the Total Revenue amounts reported in Form SIPC-7 for the year ended December 31, 2025, noting no differences, - 3. Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers noting no differences, - 4. Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments noting no differences; and, - 5. Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed noting no differences. We are engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the AICPA and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We are not engaged to and did not conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. ![](_page_18_Picture_12.jpeg) ![](_page_18_Picture_14.jpeg) {19}------------------------------------------------ We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. This report is intended solely for the information and use of the Company and SIPC and is not intended to be, and should not be, used by anyone other than these specified parties. LMHS, P.C. LMHS, P.C. We have served as Larimer Capital Corporation's auditor since 2021. Norwell, Massachusetts February 17, 2026 ![](_page_19_Picture_7.jpeg) ![](_page_19_Picture_9.jpeg) {20}------------------------------------------------ # GENERAL ASSESSMENT RECONCILIATION PURSUANT TO FORM SIPC-7 YEAR ENDED DECEMBER 31, 2025 | Amount paid with Form SIPC-7 | S | 635 | |--------------------------------------------------------|------|-------| | Less payments made with Form SIPC-6 | | | | General Assessment per Form SIPC-7, including interest | ല്ലൂ | 1.138 | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.